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My small business is looking to accept Credit Cards (credit card processing). What are the pros and cons?

I have a small restaurant business that makes around 300k a year. I'm thinking about accepting Credit Cards because many customers want to use Credit Cards but only accept cash. How to get the initial costs to be a credit card system in place? Also, how much less are the monthly and how much are the transaction fees (estimates are fine)? Is there any time of the signing of contracts for card processing credit? In all honesty, the best thing for me to stay only in cash or would be better (again in your opinion) for me to go with a credit card system. One more thing, we are more than a seasonal business that obtains a majority of our customers (about 75% of revenues) during May-August and in November-January. Other months the business is slow.

Find a credit card processing company at various prices can be overwhelming and structures because each claiming to have the lowest. The truth is that its frequency should be determined by your ticket average size and industry. If you have an average of tiocket (sale) less than $ 15 you can get a very low transaction fee of about $ 0.15. Its percentage rate will be a little higher about 1.85% for debit and Credit Cards. That's the best program for you because the transaction fee to have a greater effect on low ticket transactions. If the average ticket is over $ 15 you will pay a transaction fee between $ 0.20 and -0.25 percentage rate of about 1.80% to 1.40% Credit Cards for control. It Next I look for is what you pay for major transactions and corporate cards. This is very important. Somewhere, we charge a very low percentage swiped to verify personal and Credit Cards, but the amount of more than 4% for the awards and the hand key card. BE CAREFUL. Now I need to know the difference between a pin based debit and debit card. A check card is charged differently (see rates above the card checks), due to the way it is processed. If a customer swipes a debit card and signals to that instead of entering your pin #, there will be a% and trans. rate. If you enter your pin #, you can get a flat fee of about $ 0.65% rate and no trans. It is important to know your business, and decide whether or not the average time of entry is high enough for a PIN-based transactions of the sentence or not. Generally, a transaction amount of $ 40 or higher when you want to use that platform pin. Now that you are an expert in pricing, LOL, we need more equipment. Resturaunt In an environment with one point of choice I am sure is very important. Make sure you get the equipment has a function high point, usually Omni 3750 or Hypercom T7 Plus or better. Contrancts: Most every processor in the credit card has a contract under 3. Very common. You can find more information on rates and other programs here: http://www.omnitranz.com/freerates Hope this helps! Good luck

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